Company Overview

Capital Power Corporation is an independent power generation company focused on developing, owning, and operating electricity generation facilities across North America. The company operates within the power generation and energy infrastructure industry, with assets spanning thermal, renewable, and energy storage technologies. Its primary revenue is generated through the sale of electricity, capacity, and ancillary services under long-term power purchase agreements, hedged merchant arrangements, and regulated frameworks.

The company serves wholesale power markets, utilities, and large commercial and industrial customers, with a strategic emphasis on reliable baseload generation and the transition to lower-carbon energy. Capital Power is positioned as a mid-sized North American power producer with a diversified generation mix and a stated objective of balancing cash flow stability with disciplined growth. The company was incorporated in 2009 following a spin-off from EPCOR Utilities, allowing it to pursue independent growth in competitive power markets while maintaining an investment-grade financial profile.

Business Operations

Capital Power’s operations are organized around a diversified portfolio of power generation assets, including Natural Gas Generation, Coal-to-Gas Converted Facilities, Wind, Solar, and Energy Storage. Revenue is generated through contracted and merchant electricity sales, capacity payments, and environmental attributes such as renewable energy credits. The company actively manages commodity price exposure through hedging strategies and long-term contracts to stabilize earnings.

Operations are primarily located in Canada and the United States, with assets owned directly or through wholly owned subsidiaries. Capital Power controls and operates its facilities internally, leveraging in-house expertise in plant operations, energy trading, and asset optimization. The company has engaged in selective partnerships and joint ventures, particularly in renewable projects, but generally maintains controlling ownership to preserve operational and financial flexibility.

Strategic Position & Investments

Capital Power’s strategic direction emphasizes disciplined growth, portfolio diversification, and decarbonization. The company has pursued investments in natural gas-fired generation as a lower-emission alternative to coal, alongside expanding its renewable energy portfolio. A key component of its strategy includes converting coal-fired facilities to natural gas and investing in utility-scale renewable projects and battery storage to support grid reliability.

Notable investments include acquisitions of wind and solar facilities in the United States and Canada, as well as development-stage projects intended to support long-term earnings growth. Capital Power has also invested in emerging technologies related to carbon reduction, including carbon capture readiness and grid-scale energy storage, aligning its strategy with evolving regulatory and market-driven decarbonization requirements.

Geographic Footprint

Capital Power is headquartered in Canada, with its corporate office located in Edmonton, Alberta. Its operational footprint spans Canada and the United States, with a concentration of assets in Alberta, Ontario, and several U.S. states including Texas, Arizona, New Mexico, and the Midwest.

The company maintains a strong presence in competitive North American power markets, particularly in regions with growing electricity demand and supportive market structures. Through acquisitions and greenfield development, Capital Power has expanded its influence across multiple power pools, enhancing geographic diversification and reducing reliance on any single market or regulatory regime.

Leadership & Governance

Capital Power is led by an experienced executive team with backgrounds in power generation, utilities, finance, and energy markets. Leadership emphasizes operational excellence, prudent capital allocation, and a long-term approach to shareholder value creation, while integrating environmental and sustainability considerations into corporate strategy.

Key executives include:

• Avik Dey – President and Chief Executive Officer
• Sandra Haskins – Chief Financial Officer
• Darren Anderson – Senior Vice President, Operations
• Bob Gingras – Senior Vice President, Engineering and Development
• Joanne Gualtieri – Senior Vice President, Commercial Development and External Relations

The Board of Directors provides oversight on strategy, risk management, and governance, with committees focused on audit, human resources, sustainability, and corporate governance.